The posting
Job Description
NRECA is a unique national trade association providing advocacy, financial services and business support services to over 900 consumer owned electric cooperatives across the country. NRECA employees are united by our mission, inclusive culture, collaborative workplace and commitment to service excellence. As a “best place to work” employer, we operate with integrity, transparency and a spirit of innovation.
Join a talented team of legal and compliance professionals focused on delivering high-quality, actionable, and thoughtful legal, compliance and audit services across NRECA’s broad product and service offerings. NRECA provides a unique opportunity to work on the largest and most complicated multiple-employer plans in the nation.
Summary of Position
This position provides a wide variety of professional guidance and advice based on specialized depth of expertise to member cooperatives and internal staff regarding the NRECA retirement plans and associated compliance requirements. The person in this role solves complex regulatory and operational issues using independent, sophisticated analytical thought and demonstrating good judgement and knowledge of best practices that enable member cooperatives to maximize benefit value while minimizing plan compliance risk. They utilize and apply knowledge of state and federal rules and regulations to ensure NRECA and member cooperatives are compliant with all federal and state rules and regulations. This position is eligible for NRECA’s hybrid schedule which allows flexibility to work from home up to 2 days per/week.
Key Responsibilites
- Responsible for the technical review and validation of defined contribution and defined benefit plan compliance testing performed by an external vendor, including analysis of results and comparison of multiple tests. Independently performs complex tests not supported through the co-sourcing arrangement.
- Summarizes test findings for cooperatives, identifies compliance risks, and recommends corrective actions for adverse results. Consults on historical testing results, advises on plan design strategies, articulates risk considerations, and ensures resolution of identified issues.
- Reviews new retirement plan adoption agreements, special early retirement programs, past service liabilities, proposals, plan mergers, asset transfers, plan freezes, and other complex and atypical transactions, including changes in plan design, benefit formula, or plan design features, to evaluate impact to the plan and ensure compliance with related laws and regulations.
- Leads domestic relations orders project work, including providing requested documentation to parties, communicating by phone and email with involved parties, reviewing and advising on draft orders, determining whether orders comply with the IRC and can be administered by the plans, and exercising discretion in determining qualification of the DRO. Maintains sample DROs and procedures.
- Leads safe harbor plan design work for the retirement compliance team, including providing subject matter expertise on safe harbor notices. Consults with co-ops regarding safe harbor plan designs, provides estimates and projections for consideration by co-op management, prepares necessary documentation for the implementation of safe harbor formula and other plan changes, and coordinates activities with internal staff as needed. Supports safe harbor notice project, including providing input on project plans, reviewing communications materials for publication, assisting with follow-up on notices, and generating manual notices.
- Ability to report to the office when required
Qualifications
Required Qualifications and Skills
- Bachelor’s degree in business or related field
- 8-10 years of related compliance experience with defined contribution and defined benefit plan
- Professional Certifications (QKA, QPA, CEBS or equivalent)
- Specialized knowledge of Department of Labor (“DOL”), Internal Revenue Code (“IRC”), and Employee Retirement Income Security Act (“ERISA”) requirements for qualified retirement plans.
- Advanced understanding of both defined contribution and defined contribution designs.
- Advanced skill level in conducting complex ADP/ACP testing, as well as 401(a)(4), 402(g), 415, 401(a)(17), 414, 416, and 410(b) tests.
Essential Physical Requirements
- The worker is required to have close visual acuity to perform an activity such as: preparing and analyzing data and figures; transcribing; viewing a computer terminal and extensive reading.
- Exerting up to 20 pounds of force occasionally, and/or up to 10 pounds of force frequently, and/or a negligible amount of force constantly to move objects. If the use of arm and/or leg controls requires exertion of forces greater than that for sedentary work and the worker sits most of the time, the job is rated for light work.
Salary Range: $125,000–$154,000 annual salary
Final compensation determined by individual qualifications, experience, and internal equity.
Disclaimer Statement: The preceding job description has been written to reflect management’s assignment of essential functions. It does not prescribe or restrict the tasks that may be assigned.
Additional Requirement:
The preceding job description has been written to reflect management’s assignment of essential functions. It does not prescribe or restrict the tasks that may be assigned. All qualified applicants will receive consideration for employment without regard to race, color, sex, sexual orientation, gender identity, religion, national origin, disability, veteran status, or other legally protected status.
NRECA is committed to working with and providing reasonable accommodation to individuals with physical and mental disabilities. If you need special assistance or an accommodation while seeking employment, please e-mail [email protected] or call: 703-907-5992 - NRECA Arlington Human Resources. Please call 402-483-9275 - NRECA Lincoln Human Resources, for Lincoln, NE employment opportunities. We will make a determination on your request for reasonable accommodation on a case-by-case basis.
The U.S. Equal Employment Opportunity Commission (EEOC) recently released the 'Know Your Rights' poster, which updates and replaces the previous "EEO is the Law" poster and "EEO Is the Law Poster Supplement".
Pay Transparency Non-Discrimination. NRECA will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay. Please see the Pay Transparency Nondiscrimination Provision for more information.
E-Verify. As a Federal Contractor, NRECA is required to participate in the E-Verify Program to confirm eligibility to work in the United States. For information please click on the following link: E-Verify.
For more information about life at NRECA please visit www.Electric.coop.
